Mantra (OM) Burns Tokens to Rebound After Significant Price Drop

The token burn will immediately reduce the total supply of OM by over 16%, impacting the staking APY ratio. Staked tokens will fall from 571.8 million to 421.8 million. This reduction will decrease the bonded token ratio, leading to a higher APY for any remaining staked tokens. This initiative is expected to attract further participation as it incentivizes users to lock in their OM tokens within the platform, thereby reducing overall supply and potentially triggering more positive price movement.